$TLOOF Infinity Stone Closes First Tranche of Flow
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Posted On: 08/15/2022 9:32:47 AM
$TLOOF Infinity Stone Closes First Tranche of Flow-Through Private Placement
https://www.newsfilecorp.com/release/133844
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTC Pink: TLOOF) (FSE: B2I) (the "Company" or "Infinity Stone"
, is pleased to announce the closing of the first tranche a non-brokered private placement (the "Offering" of flow-through units (each, a "Unit" of the Company through the issuance of 2,000,000 Units at a price of $0.20 per Unit, for gross proceeds of $400,000. Each Unit is comprised of one Class A Subordinate Voting Share (a "Share" and one-half (1/2) of one share purchase warrant (a "Warrant" . Each whole Warrant is exercisable into one (1) Share (a "Warrant Share" at a price of $0.30 for a period of three (3) years from the date of issuance.
In connection with the second tranche, the Company issued 140,000 finders' warrants, and paid finder's fees of $28,000. Each finders' warrant is exercisable at a price of $0.30 for a period of three (3) years from the date of issuance.
The gross proceeds from the Offering will be used to incur eligible "Canadian exploration expenses" ("CEE" that are "flow-through mining expenditures" (as such term is defined in the Income Tax Act (Canada)) related to the Company's mining projects.
https://www.newsfilecorp.com/release/133844
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTC Pink: TLOOF) (FSE: B2I) (the "Company" or "Infinity Stone"
, is pleased to announce the closing of the first tranche a non-brokered private placement (the "Offering" of flow-through units (each, a "Unit" of the Company through the issuance of 2,000,000 Units at a price of $0.20 per Unit, for gross proceeds of $400,000. Each Unit is comprised of one Class A Subordinate Voting Share (a "Share" and one-half (1/2) of one share purchase warrant (a "Warrant" . Each whole Warrant is exercisable into one (1) Share (a "Warrant Share" at a price of $0.30 for a period of three (3) years from the date of issuance. In connection with the second tranche, the Company issued 140,000 finders' warrants, and paid finder's fees of $28,000. Each finders' warrant is exercisable at a price of $0.30 for a period of three (3) years from the date of issuance.
The gross proceeds from the Offering will be used to incur eligible "Canadian exploration expenses" ("CEE"
that are "flow-through mining expenditures" (as such term is defined in the Income Tax Act (Canada)) related to the Company's mining projects.
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